Anglo American first-half loss shrinks, lifts dividend as Teck merger awaits approval

Anglo is seeking to sell De Beers after a prolonged slump in diamond markets turned the business into a drag on earnings.

The unit reported an underlying EBITDA loss of $113 million in the first half. Impairments reduced its carrying value to $2.3 billion at the end of 2025 from more than $4 billion.

CEO Duncan Wanblad, who has been reshaping Anglo since fending off a takeover approach from BHP BHP.AX in 2024, said the company had yet to select a preferred bidding consortium for De Beers but expected to give an update in the second half.

"We are not exclusive with any particular consortium at this particular point in time. And there is more than one in the process," he told reporters.

A Botswana government official previously said Anglo had picked one consortium, while Botswana, which owns 15% of De Beers, was weighing whether to exercise its right of first refusal and buy a stake itself or through a third party.